“The Collection of Betty Schiff”

February 6th – 8th, 2015

Glamour Revisited!

A visit to the world of late 20th Century glamour! Surrounding an amazing indoor swimming pool, here you will find rooms of choice art, furniture and decorative accessories reminiscent of the “good life” of the last century. Amid these surroundings evocative of the not-too-distant past, you will find…

Herend CSung Vert Tea Service including Teapot, Sugar and Creamer, Six Cups and Saucers, Six Sauce

Decorative China and Ironstone

Lamps:

Contemporary Floor Lamp in Black Iron with Four “Candle” Sockets

Neoclassical Black and Brass Lamp in the Form of a Roman Urn

Vintage Table Lamp with China Base

Pair Matching Black Marbleized Table Lamps

]]>http://www.jabakerllc.com/upcoming-estate-sales/estate-tag-sale-nelsonia-place-columbus-oh-43213-feb-6th-8th/feed/0Auto Drafthttp://www.jabakerllc.com/uncategorized/auto-draft-6/
http://www.jabakerllc.com/uncategorized/auto-draft-6/#commentsWed, 19 Mar 2014 16:48:16 +0000http://www.jabakerllc.com/?p=7090http://www.jabakerllc.com/uncategorized/auto-draft-6/feed/0How to Find a Good Personal Property Appraiserhttp://www.jabakerllc.com/from-the-web/how-to-find-a-good-personal-property-appraiser/
http://www.jabakerllc.com/from-the-web/how-to-find-a-good-personal-property-appraiser/#commentsTue, 07 Dec 2010 17:11:08 +0000http://www.jabakerllc.com/v2/?p=96Read the article at eHow.com:http://www.ehow.com/how_7453944_good-personal-property-appraiser.html
]]>http://www.jabakerllc.com/from-the-web/how-to-find-a-good-personal-property-appraiser/feed/0Press in Columbus Business Firsthttp://www.jabakerllc.com/press/press-in-columbus-business-first/
http://www.jabakerllc.com/press/press-in-columbus-business-first/#commentsWed, 09 Sep 2009 16:26:05 +0000http://www.jabakerllc.com/v2/?p=100Continue reading →]]>On my desk sits a book called 401 Questions every Entrepreneur Should Ask, which provides those thinking about taking the entrepreneurial plunge with basic advice to consider before deciding if it’s the right track for them.

The book is a handy tool that helps identify character traits of an entrepreneur and the potential problems, solutions and financial scenarios entrepreneurs will encounter daily as a business owner.

If you like the sound of becoming an entrepreneur, read the book first and get a preview of what you will be walking into.

What the book doesn’t address at length are people like Jeff Baker of Bexley – a 44-year-old personal property appraiser and estate liquidator – whose backgrounds gently pull them toward entrepreneurship until an event occurs that makes them take that leap.

Valued skillsBaker sets a value to heirlooms, artwork, furniture and the like for people who are moving, have died or just selling what they have. He never envisioned this line of work, but in September 2008 a request from a friend whose wife had died set off a chain of events that altered his thinking.

The friend was preparing for an estate sale of his late wife’s belongings.

Not feeling comfortable with the price the appraiser said he would probably get, the friend approached Baker, knowing he was a regular at tag sales across the area. Baker agreed to come look at the items and told his friend they were being undervalued.

The friend employed Baker to do the entire valuation, which pulled in a nice amount for the widower.

Word-of-mouth reviews got Baker more jobs, and when he connected with an estate sale at the Park Towers condominiums, the “light bulb went on” to make it a full-time business.

“This was not the direction I was going to go after leaving American Signature,” where he spent three years as a divisional merchandising manager of bedroom and formal dining furniture in which he helped develop products.

Previous to that, Baker spent three years at Global Living and seven years running an antiques business out of the building that today houses the Buggyworks condominiums that are located behind Huntington Park in the Arena District of Columbus.

Baker has always had an affinity for antiques, attending estate sales and auctions with his grandparents, who, he said, “would not be very surprised” at what he’s doing today.

He can remember his first antique buy – a $60 rolltop desk that he bought at a county auction in Missouri – and his first sale – cast iron toys when he was in high school.

Rare route
Baker’s foray into entrepreneurship – his expertise in antiques and jobs at Global Living and American Signature – might best be described as a series of a-ha moments that led him to a final a-ha moment, says Sharon Alvarez, an Ohio State University associate professor in management and human resources at the Fisher College of Business.

Alvarez, whose specialties include the study of entrepreneurship, says this path is one she believes happens more often than is illustrated by research. The collective experience, she says, provided Baker and those like him a foundation from which to launch.

“You develop a set of skills and turn that into a business that nobody else does.”
In the opposite vein, Thom Ruhe, provided with the details of Baker’s evolution, labeled him an “accidental entrepreneur,” and says they – along with what he terms survival entrepreneurs – comprise a small portion of those who strike out on their own.

“I do however believe that both of the … categories contribute relatively small numbers to the overall entrepreneur ranks as the majority of people that take the plunge typically go through some methodical and thoughtful process – to varying degrees of course,” says the director of entrepreneurship at the Kauffman Foundation in Kansas City, Mo.

However people define Baker’s path probably doesn’t matter to him. He says he’s been happier, has more time with his family and is glad his service helps others.

Jeff Baker enters the master bedroom of a luxurious old East Side home and quickly surveys the belongings.

“That’s an old piece, completely rebuilt; that marble top isn’t original,” he says, referring to a small table on his right.

“That’s a 1920s Michigan piece,” he continues as his eyes circle the room. “And that’s an 1820s Georgian English secretary. Those mirrors are original, but they would have had candleholders in front of them to reflect the light; those are gone. That chest next to it looks old but is pine and is brand-new.”

Baker’s job is to know such things.

As one of several central Ohioans who specialize in liquidating estates, he is responsible for knowing the value of every item in a home – and for getting as close to that value as he can. When he is done, the home will be clean, empty and ready for a new owner.
Most families handle estates on their own. They sift through the belongings, gather some for themselves, give some away, and donate or sell what’s left.

But as families move farther apart and as homes accumulate more stuff, customers increasingly turn to the pros to clean house.
Victor Krupman asked Baker to help him clear out his Bexley house, loaded with art and silver collections, after Krupman’s wife, Cookie, died in 2008.

“It would have been overwhelming for me to do all that on the computer, checking the value of the art and silver,” Krupman said. “You need someone like him to help you break away from the things.”

A handful of tag-sale and appraisal companies have offered estate liquidation services for years in central Ohio. Others, such as Baker, have gotten into the business because they see a growing need.

Each company is a bit different, but most do more than just sell merchandise. They will clean the house, ship belongings to far-flung family members, find buyers for special items, and, in some cases, care for the yard and offer security services.

Estate liquidators, who blend counseling, selling, organizing, appraising and decorating skills, start by meeting the clients to discuss the estate.

Family members will typically gather the items they want and leave the rest to the liquidator. They might have some idea of what could be valuable in their parents’ home, but often, it’s a mystery to those who grew up with the belongings.

Firms will systematically search the house for items of unusual value – items that warrant a special audience. For many in the business, this is where the fun comes in.

But, liquidators caution, clients should also be wary of firms that inflate the value of the estate in an effort to get the contract.

Prized items such as art, guns or collectibles are pulled out for a targeted auction or for collectors; the rest are prepared for conventional sale, either through a tag sale or an auction.

Auction firms can have the advantage of being able to sell everything, but those who prefer tag sales say such sales might command more money for the seller.

The job lands liquidators in the middle of the two most difficult issues most families deal with: death and money, which require special negotiating skills.

Often, though, it’s not the expensive piece of art that drives such disputes.

Prices for estate liquidators can vary widely by service, and few firms will quote a price before they see the estate firsthand.

Some firms charge an overall percentage of what the estate fetches, typically 25percent or 30percent. Others charge flat fees depending on the service: tag sale, appraisal, cleanout, etc. Still others blend flat fees with a percentage of the sales.

Estate liquidators know some clients might bristle at the thought of paying up to a third of an estate to an agent. But, they argue, without the service, heirs are less likely to get full value for the belongings because they don’t know their worth or don’t know how to find the best buyer.

Liquidators recommend interviewing more than one firm and checking for references.

By ANN CARRNS

Published: October 18, 2011

Whether it is fine wines, vintage movie posters or abstract paintings, some people spend a great deal of time and money compiling collections of valuables. Even if they’re collecting out of personal passion, rather than as an investment, it makes sense to keep tabs on how much the collection is worth.

“You need to know what you own, and to know the value of what you own,” said Nancy Harrison, a fine art specialist with Emigrant Bank’s fine art financing unit in New York and the president of the Appraisers Association of America.

Whether an appraisal is done for tax purposes, for an insurance policy or to divide property in a divorce, the most important first step is finding someone who has broad, deep knowledge about the kind of pieces you collect. “All appraisers are not created equal,” said John Cahill, a lawyer in New York who specializes in art. “And even the good ones are not good at everything.”

You can, of course, ask for referrals from lawyers or wealth management advisers. But even then, you should check the appraiser’s qualifications. Personal-property appraisers aren’t licensed, but reputable professionals are affiliated with at least one of the three major appraisal organizations: the Appraisers Association of America, which focuses on personal property; the American Society of Appraisers, which includes specialists in real estate and other areas; and the International Society of Appraisers.

These groups require members to keep up to date with appraisal practices, called the “Uniform Standards of Professional Appraisal Practice,” and to adhere to a code of ethics. That means, for instance, that they charge only fees based on an hourly rate, or a negotiated project rate, rather than on a percentage of the appraised value.

You can search for an appraiser by name or expertise, and review information about his or her background, on each group’s Web site. “If an appraiser says they know it all, run as fast you can,” said Jane Jacob, an appraiser who specializes in American and European fine art from the 19th through 21st centuries.

Collectors have a variety of options for getting pricing information for artwork, collectibles and wine at online sites that primarily track sales at public auctions. Appraisers consult those sites too — but only as a first step. Gayle Skluzacek, a New York appraiser who evaluates both artwork and wine, says a knowledgeable expert can interpret the nuances of a given sale. Why did it sell above or below the estimate? Was it offered before? Only a professional, she said in an e-mail, knows ”what questions to ask when discrepancies appear.”

Expertise is especially important with appraisals that are submitted for tax purposes, because the Internal Revenue Service has detailed requirements for appraisals submitted as documentation for donations or estate tax calculations. The I.R.S. requires a written appraisal by a qualified appraiser for any deduction taken on items valued at more than $5,000.

The agency’s own appraisal staff reviews valuations, and some appraisals are subject to further review by its Art Advisory Panel, a group of 25 volunteer experts. The panel meets periodically to review appraisals and may decide they are too high (or, in the case of estate tax valuations, too low). Last year, the panel reviewed 475 items valued by taxpayers at a total of nearly $235 million, and recommended adjustments on more than half, according to its 2010 report.

Arthur Fleischer, a New York lawyer and arts patron whose collection includes prints by the artist Elizabeth Murray and images by the Dutch photographer Hellen van Meene, said he didn’t spend much time worrying about the value of his collection because his motivation was not to make money. When he has made gifts to museums, including the Whitney Museum of American Art and the Solomon R. Guggenheim Museum, he has worked with the appraisal service of the Art Dealers Association of America, for the documentation the I.R.S. requires. “I know from my experience in the art world,” he said, “that they’re a well thought of, responsible and reliable organization.”

Susan L. Brundage, the director of that group’s service, said it focused primarily on appraisals of fine art for tax purposes. It draws on the records of its member dealers, she said, to supplement data on prices for works sold at public auction.

The appraiser will often — but not always — examine an item or collection physically to determine its condition, before conducting research into previous sales of similar works to determine a value. Personally examining an object allows for a thorough assessment of its condition, but sometimes appraisals are done from photographs and other documentation although that must be disclosed on the appraisal report.

“You have more gravitas if you’re substantiating something you’ve seen in person,” said Elizabeth von Habsburg, managing director of the Winston Art Group.

Even with a thorough appraisal, fluctuations in the art markets can lead to surprises. Collectors must understand that there is not “one mammoth market” that determines a work’s value, said Ms. von Habsburg, adding, “There are many submarkets, and they move at different rates.”

Lately, for instance, Chinese collectors have been bidding up the prices of Chinese artworks. Ms. von Habsburg’s firm was asked to appraise a collection of 20th-century decorative jade and porcelain pieces from an estate. Previous sale records led to an estimated maximum price of roughly $124,000, but they sold for more than $1 million on the online auction site iGavel.

The market for collectibles, like Hollywood or sports memorabilia, is also volatile; prices can surge when there is a “landmark” auction taking place, said Leila Dunbar, an appraiser who specializes in such items. The auction earlier this year of costumes owned by Debbie Reynolds, for instance, increased the value of outfits worn by Marilyn Monroe, Audrey Hepburn, Grace Kelly and others.

Because markets can change quickly, insurance companies encourage collectors to have works reappraised periodically to make sure coverage is adequate. Mary L. Sheridan, assistant fine arts manager for Chubb Personal Insurance, said collectors with extensive inventories typically worked with professional curators and kept their appraisals current. Those with smaller or lower-value collections — say, less than $10 million — are sometimes reluctant, however, to spend the money for regular appraisals, which can cost as much as $300 an hour, along with the higher premiums an increase in valuation might bring.

“They do not see a need — until there’s a claim,” she said.

Failing to keep up with rising values can prove risky. Ms. Sheridan recalled an owner who had a painting by the French artist Raoul Dufy, illuminated by a picture light attached overhead. The screws came loose from the light, allowing the bulb to fall into the painting and burn a hole through the canvas. “It was a total loss,” Ms. Sheridan said. The painting was insured on the collector’s homeowner’s insurance policy, for $18,000. The market for Dufy’s work had grown, she said, and the so the painting’s value at the time of the damage was close to six figures.

Bill Edgerton, a wine appraiser in Connecticut, said roughly half of his appraisals were done after failed marriages. “Usually — not always — it’s the man who has bought the wine,” he said. “The woman wants her share of the value of the wine in the divorce settlement.”

Sometimes, Mr. Edgerton said, he was hired simply because a collector wanted to sell a bottle or two and wanted to know what kind of price to expect.

James Salmon, an entrepreneur in Jacksonville, Fla., recently had Mr. Edgerton update an appraisal of his collection of about 1,000 bottles. Mr. Salmon first retained Mr. Edgerton a decade ago, after reading about him in Wine Spectator. “I asked him to step in, just to see what I had,” Mr. Salmon said.

Mr. Salmon provided Mr. Edgerton with an inventory of his collection, along with documentation of proper storage and details about the condition of the bottles and their labels. He declined to reveal the value Mr. Edgerton placed on his wine, but said he was satisfied with his investment. “I don’t flip them,” he said of his wines. “I like to collect them, and keep them.”